Financial Wellness

The Cornerstone Foundation embraces the credit union philosophy, “People Helping People,” with a special emphasis on financial wellness. The National Credit Union Foundation determined 12 barriers to financial health & well-being for credit union members, staff, and communities. These barriers are known as Development Issues.

Community Development Grants are available to assist Cornerstone credit unions that are ready to combat one or more of the 12 development issues. This grant opportunity is intended to support the unique community development needs of credit union members.

Process

Cornerstone credit unions of all asset sizes are eligible for one Community Development Grant per calendar year. A credit union may submit another request upon completion of any previous grant-funded community project and the submission of a final report so long as the grant request falls in a new year. 

Applications received after December 6, 2024, will be considered for a 2025 grant, and reviewed in January.

Apply Now

The Cornerstone Foundation Grants Committee will review completed grant requests within 2-3 weeks of submission. Incomplete applications will not be accepted. 

Credit unions may apply alone or in conjunction with a nonprofit or other community partner to deliver the programming or events. Credit union partnerships and additional grant opportunities may include:

• Non-profit, community service organizations (Examples: YMCA, Scouts, Boys & Girls Clubs, Consumer Credit Counseling, Community Affordable Housing or Asset Building Organizations)
• Education-related organizations or schools (Examples: Junior Achievement, Partners in Education, Communities in Schools, Newspapers in Education, Schools, Districts, Parent-Teacher Organizations, Educator Continuing Education Programs)
• Religious Organizations (as long as the program or services are open to the community at large and/or credit union membership)
• Projects with a Financial Wellness component
• Hispanic Outreach initiatives
• Community Development Financial Institutions (CDFI) or Minority Depository Institution (MDI) assistance

Community Development grants award a maximum of $10,000 and full funding is not guaranteed. Grant funding will be issued per the Community Development grant agreement. If the grant is approved, the credit union must implement the program and expend grant funds within a 12-month period.

Requirements

Please carefully review the full Cornerstone Grants and Scholarships guidelines for details. 

• General operating expenses – which includes, but not limited to the following: technology, digital banking, audits, policy reviews and assessments, equipment, payroll, furniture 
• Capital campaigns or “bricks and mortar”
• Fraternal organizations
• Religious organizations for religious purposes
• Political entities, organizations, or activities 
• Organizations that discriminate on the basis of sex, religion, gender, or national origin
• Sponsorships, golf tournaments and other fundraising events
• Marketing and promotional products
• Scholarships for credit unions’ community partners
• Direct donations to credit unions supporting community nonprofits without a project component

Cornerstone Chapters serve a very important purpose in the credit union system. They are a source of professional and organizational development, local credit union awareness, and community outreach. Credit union chapters also are a centralized source of connection to credit unions for the community. Grants are available for Cornerstone chapters to help them achieve their goals and objectives. 

Each chapter is eligible to apply annually for one of the following:

• Professional Development Grant – Max Grant Size: $2,000
  • Training or educational programs or speakers that will be beneficial to member credit unions
• Community Development Grant – Max Grant Size: $10,000
  • Community Outreach Program that supports one of the 12 development issues
  • (See Community Development Grants for more guidelines)

Deadlines